ECONOMY

Stocks post rebound on ATHEX

The local bourse rebounded on Tuesday as the markets appeared certain the Greek government would have the confidence vote go its way and banks continued their yo-yo trend.

The Athens Exchange (ATHEX) general index ended at 1,275.47 points, expanding by 3.74 percent from Monday?s close at 1,229.43 points. The blue chip FTSE/ATHEX 20 index rose by 4.64 percent to end at 576.09 points.

The banks? sectoral index dropped by 3.37 percent on Thursday, rose by 7.82 percent on Friday, declined again by 4.26 percent on Monday and rebounded by 6.93 percent on Tuesday.

All but one blue chip showed gains, with Ellaktor adding 10.19 percent, Alpha Bank rising 9.81 percent and Eurobank EFG growing by 8.97 percent. ATEbank fell 0.79 percent.

In total 103 stocks moved up, 36 went down and 40 remained unchanged. GEK Terna posted the biggest rise, with gains of 14.09 percent, while Quality and Reliability led the losers, declining by 13.04 percent.

Turnover grew from 56.5 million euros on Monday to 109.3 million on Tuesday, with 94 percent of trade concerning blue chips.